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Excerpts from correspondence to Lincoln Place tenants from AIMCO
and Shober-Livas.
“We know you are anxious to learn about the future
of Lincoln Place. The owner has been considering a number of options .
. . [and] it will be necessary to relocate residents.
“Eventually AIMCO will invoke the Ellis Act. [It] could come into
affect any time after November 1, 2004.”
“Once a legal process (Ellis) begins the benefits revert to the Rent
Stabilization Ordinance level of relocation payments. The timetable
for vacating the property will also be mandated, so residents will
have much less flexibility.” (Editor’s note: Under the Ellis Act,
seniors and disabled tenants have a year to vacate from the time the
eviction notices are served. Others have four months.)
“The property is in need of capital improvements and can be utilized
much better. It’s just a matter of when, not if, the property will be
redeveloped.” |
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